Voyager Digital Delisted From TSX Post Bankruptcy Filing

The Toronto Stock Exchange (TSX) announced an expedited delisting process on Wednesday, suspending trade in Voyager shares after Voyager Digital filed for Chapter 11 bankruptcy on Tuesday. By Voyager’s bankruptcy filing, the company has more than 100,000 creditors and outstanding loans totaling US$1.1 billion. According to the statement, as of April 30, Voyager’s total assets were a little over $5 billion, and its total liabilities were $4.9 billion. Voyager announced last week that it would work to recoup the roughly US$650 million given to Three Arrows Capital. Despite obtaining a US$500 million revolving credit arrangement from Sam Bankman-Fried, CEO of FTX’s Alameda Research, Voyager filed for bankruptcy. The largest loan on Alameda Research’s books, valued at about US$377 million, is owed to Voyager, followed by debt to 3AC, according to the bankruptcy petition. Voyager Digital Issues Notice of Default to 3AC Hedge firm Three Arrows Capital (3AC) received a notice of default from cryptocurrency broker Voyager Digital on Monday for failing to make payments on an approximately US$665 million loan. Voyager reported that it had requested repayment of USD Coin (USDC) valued at $25 million by June 24 and the remaining sum by Monday. The loan comprised 15,250 Bitcoins, each worth roughly $315 million, and USDC totaling 350 million. According to reports, 3AC is experiencing a severe liquidity crunch due to its exposure to the dev...